Liberalise Social Security, but watch out for the vultures

The Ugandan banking industry, has over the last one decade grown by leaps and bounds. A number of reasons can be advanced for this growth but there are two reasons that stand out: managed liberalization of the sector, coupled with strict regulation. One of the key hallmarks of this regulation regime is the Financial Institutions Act 2004, that among others set a number of strict guidelines on who can own and run a financial institution.

For example, the act forbids any single individual

Read more ...